Conferences and exhibitions spaces firm DK Vertex has lined up a Rs 300 crore investment plan for expansion in India in the coming years, as it sees "significant potential" in the convention and events venues beyond metropolitan cities, Vertex Group Founder and President Gagan Arora said on Tuesday. DK Vertex, an arm of the US-headquartered Vertex Group, recently inaugurated the DK Vertex Convention Centre at Udyog Vihar, Gurgaon, in association with MSME Business Forum India, expanding its portfolio of business-ready spaces with a venue designed for conferences, exhibitions and corporate engagements. "With a Rs 300 crore investment plan to expand to more than 30 centres across 10 cities with 50,000 seats, we see this convention centre as part of a much larger journey to build an integrated ecosystem of spaces that respond to how modern businesses operate," the Vertex Group Founder & President told PTI. He shared that the company sees significant potential to take the convention .
The 1.5 million sq ft development near Bengaluru airport will house a convention centre, performing arts venue, hotels, offices and retail spaces, with completion targeted by 2031
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Federation of Hotel and Restaurant Associations of India has asked the government to grant infrastructure status for hotels across all categories and convention centres built at a project cost of Rs 10 crore and above to give a fillip to budget segment in the hotel industry. In its pre-budget recommendation, the Federation of Hotel and Restaurant Associations of India (FHRAI) also sought GST rationalisation proposing a 12 per cent GST rate across all hotels. "Granting infrastructure status to hotels and convention centres across all cities is crucial for attracting investments and accelerating growth in the hospitality sector," FHRAI President Pradeep Shetty said in a statement. FHRAI said one of the key requests put forward by the hospitality federation to the Finance Ministry was to "grant infrastructure status for hotels across all categories and convention centres built at a project cost of Rs 10 crore and above to give fillip to the budget segment in the hotel industry." Besid
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